Bank of Japan Won't Announce More Monetary Stimulus Despite Second Recession

Don’t expect the Bank of Japan to unveil more monetary stimulus following its policy meeting on Wednesday. That’s the assessment from Michael Ingram a market analyst at BGC Partners, based in London, who thinks a fiscal stimulus is the more likely option, given how the Japanese economy has fallen into a recession during the third quarter. Though he thinks more monetary stimulus will come soon. Meanwhile, stocks in Europe were in rally mode on Tuesday, despite Friday’s horrific terror attacks in Paris. Ingram said the gains were a reaction to the significant selloff seen across the board last week, which came amid a disappointing earnings season and concerning comments from the European Central Bank about the health of the eurozone economy. TheStreet’s Scott Gamm speaks with Ingram.